Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stocks to Watch: ADC Telecommunications, Fannie Mae, Google, Home Depot, Yahoo

By

Find your groove...

PrintPRINT

Stocks to watch for Wednesday, December 13

  • ADC Telecommunications (ADCT) reported fourth-quarter net earnings of $40.4 million, or 33 cents a share, compared with $900,000, or 1 cent a share, in the same period last year.
  • Axis Capital Holdings (AXS) said Trident II L.P. and its related entities have agreed to sell 3 million of Axis' shares in a block trade.
  • Buckle (BKE) said its board has authorized a one-time cash dividend of $3 per share. The dividend is payable Jan. 2 to shareholders as of Dec. 22, according to the Kearney, Neb.-based retailer.
  • Cabot Microelectronics (CCMP) said it plans to pursue legal action against DuPont Air Products NanoMaterials LLC on chemical mechanical planarization slurries that Cabot claims infringe its patents.
  • Celanese (CE) said it is relocating strategic management of the company's Acetyls business to Shanghai, China, as early as spring 2007. The chemical company added that it expects to derive 45% to 55% of its earnings from Asia by 2010, compared with the current level of 30%.
  • CHC Helicopter (FLI) reported second-quarter net earnings of C$8.9 million ($7.2 million), or 20 Canadian cents a share, compared with C$39.2 million, or 85 Canadian cents a share, in the same period last year.
  • CKE Restaurants (CKR) said third-quarter net income fell, as income tax expense rose, to $9.46 million, or 13 cents a share, from $15.8 million, or 23 cents a share, during the same period in the prior year.
  • Cleveland-Cliffs (CLF) said it has agreed to acquire 30% of Brazil's Amapa iron ore project by buying Centennial Asset Amapa Participacoes SA for $133 million. Amapa is expected to produce 6.5 million metric tons of iron ore concentrate annually.
  • DCT Industrial Trust (DCT) said its initial public offering of 16.3 million shares has priced at $12.25 each, raising $199.7 million. The shares will begin trading Wednesday on the New York Stock Exchange under the symbol "DCT."
  • EchoStar Communications (DISH) said Dish Network satellite TV service has reached an agreement to carry NewLine Cinema's current and catalog titles. The titles will be available on the Video On Demand platform, DISH On Demand, as well as Pay-Per-View services.
  • Fannie Mae (FNM) filed suit against KPMG, seeking $2 billion in damages. The suit alleges the auditor's negligence caused Fannie to violate accounting standards.
  • Google (GOOG) plans to let nonexecutive employees sell vested stock options through an online auction.
  • Home Depot (HD) signed an agreement to buy The Homeway, China's first home improvement retailer, providing the Atlanta-based do-it-yourself chain with an immediate retail presence in China.
  • IBM and Yahoo (YHOO) developed a new computer and Internet search program that will be distributed free and compete with a popular line of programs from Google.
  • The Federal Trade Commission said it has granted conditional approval for Johnson & Johnson's (JNJ) proposed acquisition of Pfizer's (PFE) consumer health-care business. The FTC is requiring J&J to divest several units to eliminate competition problems.
  • Martek Biosciences (MATK) said fourth-quarter net earnings dropped to $641,000, or 2 cents a share, compared with $4.89 million, or 15 cents a share, in the same period last year.
  • Media General (MEG) said November revenue rose 21.2% to $91.7 million from the same period in the prior year. Excluding results from four new NBC television stations, monthly revenue rose 6.1%.
  • Nasdaq said it will consider its $5.28 billion bid for London Stock Exchange a success if a simple majority of shareholders approve it.
  • Peerless Systems (PRLS) said it swung to a third-quarter net loss, as revenue fell, of $18,000, or breakeven on a per-share basis. During the same period in the prior year, net income was $1.05 million, or 6 cents a share.
  • SAIC (SAI) said third-quarter net income rose, as revenue gained, to $98 million, or 28 cents a share, from $91 million, or 25 cents a share, during the same period in the prior year.
  • Savient Pharmaceuticals (SVNT) said a federal appellate court in Washington, D.C., has temporarily banned all sales of generic Oxandrin, a weight treatment, by Sandoz Pharmaceuticals and Upsher-Smith Laboratories.
  • Sprint Nextel (S) has named President and Chief Executive Gary Forsee as chairman. Forsee replaces Tim Donahue, who will retire as executive chairman at the end of this month.
  • Stanley Furniture (STLY) said it plans to cut 200 of the 450 employees at its Robbinsville, N.C. plant. The cuts include management and hourly employees, according to the wood furniture manufacturer.
  • United Airlines (UAUA) and Continental (CAL) are holding talks on a possible merger and AirTran proposed an offer for Midwest Air as the long-awaited consolidation of the airline industry heats up.
  • WD-40 (WDFC) raised its quarterly dividend 13.6% to 25 cents a share. The San Diego-based maker of lubricants and cleaners said the dividend is payable Jan. 31 to stockholders of record as of Jan. 8.


Market Update

  • Asian trading closed with the Hang Seng -1.00%, Nikkei +0.33%, Sensex +2.91%, Taiwan -0.11%, and Shanghai +0.20%.
  • A quick check across the pond finds the CAC +0.63%, DAX +0.28%, FTSE +0.33%, ATX +0.62%, Swiss Mkt. +0.14% and Stockholm -0.18%.
  • Crude oil is trading -0.08 to 60.94 while gold is flat at 631.7 this morning.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE